Bank of America said it plans to slash costs by $3 billion annually in commercial lending, investment banking and wealth management, becoming the latest big bank to take aim at expenses as revenue falls in most of its businesses.

The second-largest US bank cut costs 25 percent in the second quarter, helping it post a slightly larger than expected profit of $2.5 billion, 19 cents a share after posting an $8.8 billion, 90 cent per share loss a year ago. Its work force shrank by more than 12,000 from a year ago to 275,460.

The cost cuts come as the bank faces real pressure. It said its loan book shrank from the same quarter last year. Its interest income fell 15 percent because of low interest rates. And investors are pressing the bank to buy back more bad loans that it made during the housing boom.

Revenue at Bank of America totaled $21.97 billion, up from $13.24 billion a year earlier when it took mortgage charges.